1 lot = $ 100.000 (1 pip equals $ 10,-) Apparently a Nano = $ 1000.- (meaning 1 pip = $ 0.10) Padu trades over 80 lots; 1 pip profit or loss equals $ 800,-
Nooooo, don't read it and don't think about it! Besides you start smaller and you're adding when price moves in your favor.
Even if you do everything perfect according to your system you will experience losing trades, losing days and even losing weeks or months. Everybody does.
but anything that does not finish you makes you stronger. because of my losses I just learnt how to do some continuation trades....I was only doing turning point trades
Wow that's a lot of leverage! I guess it makes sense though, due to the typical low volatility of currency pairs. 500x leverage on 200 is 100,000 buying power? Did I lose a zero somewhere? So $1 per tick on a 10k lot if a tick is $0.0001? A 50 tick run then would be $50 profit? Okay, I can see how you could win or lose a fair amount of money with a small account. I was thinking big account, small wins/losses, being used to thinking 4x leverage. That leverage is the missing piece of the puzzle. I only just started reading yesterday on FX, and I am about 20% in to "FOREX TRADING: The Bible" by Samuel Rees, so much has not yet been revealed to me LOL! Anyway thanks for that response. I have no immediate plans to jump into FX but the idea is interesting and now I can see how it would be feasible.
You haven't swept your account. So you have no idea yet whether your Forex broker will pay you out. None of that money is real until it's in your home bank. Then again, you're in India, of all places. Your country probably doesn't even have govt deposit insurance so if your bank goes belly-up, your money is buh-bye. I guess the alternative is to use a US international bank like Citi (if your country allows it) to find refuge in all of that disarray. You're not acting like a normal person would who has recently come into a great deal of money (by your country's standards). The normal reaction is to permanently secure the gains and then make more of it by repeating the process from a much smaller base, as was done before.
that seems like a good idea......I did not do that because I am still learning just now I found a good way to get into continuation trades I cannot explain why or what my goals are....it would take too long and seem weird to you ...I am not a normal person this is the first time I have lost profit-not capital- and not blown my account for a month …. by the way I did withdraw my original capital
My understanding is that it's illegal in India to trade any pair that is not tied to their currency. So, I have been wondering how Padutrader can be trading anything else, such as USDJPY, without breaking the law.